(Almost) All Your PS4 Questions Answered

Sony released a gigantic FAQ for everything PS4 in anticipation of the PS4 launch on November 15th. Good thing for you I read the entire thing and decided to shorten it with only the important information for the Nerd Nation.
What comes in the box at launch is the PS4 system with a 500GB hard drive, DualShock 4, micro-USB cable, Mono-headset for voice chat, power cable (no power brick!), and an HDMI cable. The PS4 supports HDMI out, Digital out (optical audio), Ethernet, two USB 3.0 ports, PlayStation Camera connector, 802.11 b/g/n Wi-Fi connectivity and Bluetooth 2.1. The stock 500GB hard drive is replaceable. Any 5400 RPM SATA II hard drive with over 160GB of storage that is no thicker than 9.5mm should work with the PS4. There is no mention of if 7200 RPM hard drives will work but in my opinion it is not worth the extra money for a 7200 RPM with a game console. External hard drives are NOT supported with the PS4.
The PS4 requires a TV with HDMI, so your old tube TVs will not work with the PS4. The PS4 supports 3D game-play at launch, but there are not any launch titles currently 3D compatible. 4K support is currently in consideration. Features available at launch include background downloads, cross-game voice chat, transitioning to a network based on real-world friends, and live streaming game-play footage via Ustream and Twitch.
Some features require a system software update that will be available on launch. You can install the system software via USB drive or request a disc from Sony if you cannot connect your PS4 to the internet for some reason. The software includes the following features: Remote play, second screen, basically all the share button features, play as you download, multi log-in, party voice chat, face recognition and voice commands, background music player, online multiplayer, Blu-ray disc and DVD player. Audio CDs will not play in a PS4.

PS4 supports 2,000 online friends, a huge improvement over the 100 friends limit on the PS3. You cannot change your existing PSN Online ID, but you can display your real name and import your Facebook photo for your PSN profiles picture. PS4 offers parental controls. Parents can limit children’s use of the internet browser, chat and messaging features, ability to post and view user-generated media, spending limits, and set a control level for playing a game or application.
PlayStation Plus is required for online multiplayer gaming except for free-to-play games like DC Universe Online. The light bar can not be turned off on the DualShock 4. Recorded game-play can only be shared to Facebook on launch. Game-play can be live streamed via Ustream or Twitch though. External HDMI-based game capture devices will be supported following an upcoming software update.
Last but not least, Sony released an updated PS4 game list that will be available on or by November 15th. The list includes the following: Flower, Killzone: Shadow Fall, Knack, Resogun, Sound Shapes, Angry Birds Star Wars, Assassin’s Creed IV Black Flag, Call of Duty Ghosts, DC Universe Online, FIFA 14, Battlefield 4, Just Dance 2014, Injustice: Gods Among Us Ultimate Edition, Lego Marvel Super Heroes, Madden NFL 25, NBA 2K14, Skylanders SWAP Force, Contrast, Pinball Arcade, Super Motherload, Tiny Brains, and Warframe.
If you have any other questions about the PS4, then consult the PlayStation 4 FAQ here.